As Stock Market Plummets, Tech Gets Pounded

By Channel Insider Staff  |  Posted 2008-09-29 Email Print this article Print

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Despite optimistic outlooks from leading technology vendors, tech stocks offer no safe haven for wary investors seeking relief in the free-falling market. Fifty of the leading publicly traded tech vendors and distributors lose ground in Sept. 29's record-breaking sell-off.

Monday, Sept. 29, 2008, will go down in the record books as one of the worst trading days in the history of the U.S. stock market. After the House of Representative failed to pass the massive $700 billion financial system bailout package, investors pulled their money out of the market by the billions of dollars.

While the technology sector remains relatively healthy, tech vendors were not immune to the ravages of the free-falling market. Overall, the technology sector lost 8.9 percent of its combined value. All 50 of the leading publicly traded technology vendors and distributors monitored by Channel Insider suffered losses in trading. No technology sector or vendor type escaped the sell-off.

For how your vendor fared in Monday's trading, see below.

Stock Indexes -- September 29, 2008





Dow Jones Industrial Average11,139.6210,365.45-6.98%
S&P 5001,213.271,106.55-8.80%

Leading Technology Stocks -- September 29, 2008





Adobe Systems (ADBE)38.4736.18-9.53%
Adtran (ADTN)19.8619.10-4.50%
Alcatel-Lucent (ALU)4.073.67-15.24%
Apple (AAPL)119.50105.55-17.68%
Arrow Electronics (ARW)28.2826.19-8.87%
Avnet (AVT)24.8023.90-3.98%
BMC Software (BMC)28.9727.85-5.37%
Canon (CAJ)38.2336.81-7.07%
Check Point (CHKP)22.7621.54-7.08%
Cisco Systems (CSCO)23.2721.80-8.48%
Citrix Systems (CTSX)26.9023.74-15.27%
Data Domain (DDUP)22.5021.86-4.25%
FalconStor (FALC)5.645.05-11.56%
Foundry Networks (FDRY)18.1917.45-4.59%
Google (GOOG)420.00385.00-10.68%
HP (HPQ)47.1645.17-5.52%
Ingram Micro (IM)16.6916.20-4.42%
Intel (INTC)18.7612.25-10.16%
Juniper Networks (JNPR)22.5321.00-8.77%
Lexmark (LXK)32.1031.83-2.09%
McAfee (MFE)35.2533.43-6.62%
Microsoft (MFST)26.8725.10-8.39%
Motorola (MOT)7.436.68-12.45%
NetApp (NTAP)18.5916.75-10.90%
Nokia (NOK)18.9117.60-10.57%
Nortel Networks (NT)2.692.38-8.81%
Novell (NOVL)5.204.85-8.32%
Oracle (ORCL)20.3618.77-8.97%
Polycom (PLCM)23.0721.99-7.45%
Rackspace (RAX)8.758.51-3.73%
Red Hat (RHT)16.1715.33-6.58%
Research in Motion (RIMM)68.8062.50-11.67% (CRM)49.0744.76-11.63%
ScanSource (SCSC)31.4328.74-10.22%
Seagate Technology (STX)12.1911.74-5.48%
Sun Microsystems (JAVA)7.526.90-9.69%
Sybase (SY)31.7829.84-8.52%
Symantec (SYMC)19.5718.62-5.96%
Synnex (SNX)22.8922.233.93%
Tech Data (TECD)29.2329.34-0.98%
VeriSign (VRSN)25.8023.80-9.98%
VMWare (VMW)28.2626.00-10.47%
Websense (WBSN)23.1721.23-10.99%
Xerox (XRX)11.5311.05-5.05%


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